tv The Willis Report FOX Business June 5, 2014 5:00pm-6:01pm EDT
david: number one thing is watch the jobs figure. the all-important may jobs figure. it is expected to rise by 218,000. the unemployment rate rate expected to rise to 6.4% from 6.3%. liz: that does it for us. don't move, "the willis report" is next. hi, gerri. a huge day. you've been covering gm for a long time. consumers are very interested to know what is your angle on this. gerri: liz, dave, we're covering gm. we have a attorney representing victims and a former regulator weigh in on the gm story. coming in on today's show, sec comes in with high frequency traders with concerns over their role in the stock market. we'll dig into the new proposals. we're getting set for the u.s. open golf championship. the most successful female golfer of all time, all time, annika sorenstam is with us. handwritten letter from ronald reagan is sold. we have the letter here on set. we'll show you what it says about a side of reagan rarely
seen in public. we begin tonight though with a report on the gm recall. incompetence and neglect but no cover-up. that's what gm ceo mary barra says were some of the key findings of the independent report into the deadly ignition switch recall. the report was conducted by an attorney. berra says she interviewed 230 employees and reviewed, get this, 41 million documents. >> what valucas found in this situation was a pattern of incompetence and neglect. repeatedly individuals failed to disclose critical pieces of information that could have fundamentally changed lives of those impacted by the faulty ignition switch. if this information had been disclosed and i believe this in my heart. the company would have dealt with this situation much differently and appropriately.
gerri: to refresh your memory here is how we got here. in february of this year, general motors started recalling chevy cobalts. saturn eye ons and other small cars because of a problem with the ignition switch. the switch could slip out of the run position. that disables power steering, power brakes an airbags. at issue when gm first found out about the defect. reports says, gm knew something was wrong as far back as 2002. general motors at midst at least 13 people died in crashes because of the faulty ignition switch. trial attorneys and at least one news outlet put the death toll much, much higher. joining me now to help make sense of the latest developments, are joan claybrook, who used to run the national highway traffic safety administration, attorney bob hilliard who represents families of some of the victims and "wall street journal" reporter
kneel bo depp. t. neil, i will start with you. new question about information we're finding from the report today. engineers originally decided that the problem with the ignition switches were simply an issue of convenience, not safety. tell us more about that. >> that's correct. throughout the report they make clear that almost all throughout the entire process from 2003, 2004, up through today, that gm viewed this as not a safety issue. if the car switches in the off position, the engines stops running you could still steer it and use the brakes and bring the car to a halt. they did not view that as a safety concern and convenience is what they attached to it. they said it was a customer convenience matter. gerri: wow. >> they hand heed it not with the your gonesy that an you would with a serious safety issue. gerri: that is shocking.
ray did i giorgio, who was engineer at center of all of this, there apparently was knowledge apparently very early before cars even went on the market there was a problem. how can that be true? >> well, it is. this engineer by the name of ray degiorgio, was in charge of the switch development as the cars were being prepared in the early 2000s. they had multiple props. they had electrical issues with the switch but also a mechanical one where it could slip into the off position. at one point he referred to it as the switch from hell in email to the supplier. he knew this was a faulty part. in the end he approved it, even though it did not meet gm's specifications in terms of amount of force you need to turn the key. gerri: shocking revelations from the report. we're still getting shocking revelations. joan, to you. you've been involved in regulations since the 1960s. you were on board with ralph nader. what did you make of today's ref
verylations? >> well the key thing to me there is no accountability inside of general motors and that i find shocking. all these committees and people never take any minutes and they don't have to be responsible and things shift back and forth there over this enormous company. there is no system to make sure they come to close you are on an issue. also this calling stalling a convenience issue is ridiculous. the national highway safety traffic safety administration called stalling problems a safety issue since back in the early 1970s. indeed it was a court in a case involving a general motors carburetor that caught fire and then the car stalled, said that stalling is a safety issue. so for them to say it's a convenience issue is shocking to me. in addition, the whole report
seems to be resolving everybody except a few lower level people of responsible to make sure defects are properly considered and that recalls are instrumented. there was even an admission people are. they don't make minutes on purpose and don't take notes at meetings so there is no responsibility t said that the board of directors have no idea how many people are killed each year in general motors cars. gerri: that's shocking. >> so like everybody is off the hook. yeah, everybody is who have off the hook. i believe the tougher the regulator is with the company the better the company will behave and better for the company in the long run and they need criminal penalties in order to assure that. gerri: let's turn to bob what he has to say. bob, you're representing literally scores of families taking action against the company because members of their family were killed in one of these cars. what's the price you --
surprised you most, what mary barra, the ceo of gm, had to say today? >> it's this, at what point does incompetence and neglect transform into a cover-up? almost as if they're saying we were too stupid to cover it up. we didn't even understand that we had a defect, but if you create a culture where you don't have like joan said, any checks and balances, how is that not the definition of a cover-up? if you keep your head in the sand, if you do it intentionally, if you know there are problems that you don't address and those problems cause death and injuries in my view and my view of the folks i represent, that is a cover-up. gerri: neil, there were a lot of questions of a two-hour press conference of mary barra. how seriously was she questioned? were her feet held to the fire? what do you think of what bob is saying here? he is questioning her comments
about the cover-up? >> well, the report says there is no evidence that mary barra herself knew about this until just very recently. so, it's hard to point the finger at her but one thing that the report does make clear is there were many, many engineers, not just the one we've mentioned, ray degiorgio, many, many engineers who noticed this, problem of vehicle shutting off and raised concerns about it. the problem it very often flowed back to ray degiorgio, the guy who knew it and approved it and he didn't take any action. there were many levels from gm from 2004 to 2014 that knew about this but they didn't go up to the really high senior executive levels. there were engineering drops in the proving ground and technical centers. so hard to say that mary barra herself, has a lot of
responsibility for this. gerri: what she said, go ahead, joan. >> i was saying the key thing here is the law. the law is very clear and general motors has a huge legal office. and they were sued and when that happens, the general way that general motors handles these things, they gather all the information together to fight the lawsuit. and in some cases, settle the lawsuit if they realize they have a problem. so, i put a tremendous amount of responsibility on the lawyers going up to the chief counsel who does report to the ceo, for not bringing this to the attention of the upper management. because there were many lawsuits filed, some, i don't know, 20 or 30 lawsuits filed over these years and when they're filed the company gathers its information and knows that there's a problem. so not just in one section of general motors or another section of general motors. they assemble the information. so i think that there is more here than has been revealed. gerri: bob, i want to follow up
question for you, bob, before we go, we don't have much time. i'm wondering if anything you herd today could affect the company's bankruptcy protection? because the company of course has been through bankruptcy. it has come out as the new gm. is there anything you heard today that could impact that? >> absolutely. that report will be the road map for the bankruptcy judge to determine who knew what and why wasn't it disclosed to him when they sought bankruptcy protection. gerri, there is very important to put a face on what joan just said. one of my clients had to plead guilty a state felony offense in a vehicle gm admits was defective. while she was going through the criminal system, the civil lawsuit was going on and gm knew it was the defect, not her conduct that caused the accident, yet they sat on their hand and watched quietly as she pled guilty to a felony. she is now a convicted felon
because of that. gerri: we've got more and more to come on that story. i hope you will all join us again. joan, bob, neil, thank you. >> thank you. >> thanks, gerri. good seeing you. gerri: we're staying on the gm story here. joining knee now -- me now by phone is a woman whose daughter was killed in one of the recalled vehicles in 2009. darrell, to you, i'm so sorry for your loss. tell us in your own words your reaction to mary barra's comments today? >> i was deeply affected by her comments. as i listened to her and i think about it now, i cry. she -- word that stood out for me initially were that her comment that the goal was to focus on honor, integrity and
safety. and i, i cried when i heard her say that because i bought the car because i thought it was a company that had integrity, that had -- and did care about the safety of the people who, who purchased the car. i was deeply saddened because i realized that was in fact the not case. the level of inhumanity was just unconscionable to me. i, i'm so, still trying to process it. it has been difficult. gerri: i'm sure it has been difficult. your daughter died in 2009. >> yes. gerri: and it has taken 11 areas for the company to come to term with this, even admit the problem. what should happen now, in your
view? >> in my understanding, well, i think that they need to be accountable and i, what i heard today is that they intend to be but i didn't hear that they, their intention was to be fully accountable. i mean their focus is on the 13 who died as a result of airbags not inflating but, way back in 2009 when this happened to my daughter my sons believed there was more to it than that. they believed happened to the power and that my daughter was not able to steer and that's, that is in fact why they pursued legal action against gm to begin with. that is the airbags also did not
inflate and the seatbelt did not lock to prevent the, help prevent her death was secondary to what they felt the primary impact, there was a defect and they didn't know what it was. that something had happened that caused her to lose power and to lose control of the car and ultimately to crash. >> daryl, i believe we still have bob hilliard who is your attorney in this case with with us. >> yes. gerri: bob, if you would, more details about this case. so, another situation where airbags did not deploy. the seatbelt did not lock. tell us more about the events of that day. >> well this case represents a unique situation that i faced with many clients and that is, gm actively committed fraud in the civil case by not providing the information to allow us to find out that this was a defective vehicle. they wanted to blame the driver.
they wanted to threaten the family that it would be the driver, this, daryl's daughter, who was to blame while at the same time not providing information about the defect. so the case was settled. we're going to refile this lawsuit because gm's attorneys have an independent duty to be sure that the information they provide us through the legal process is accurate, and it's complete. so either gm was not giving it to their attorneys, in in case, or gm's local attorneys were involved in the cover-up. only one of those go things can be true because we were never provided the information that gm actually had. that this was a result of the defective vehicle. and that is the only reason this accident occurred. gerri: the revelations just keep on coming. daryl, thank you. bob hilliard, thank you for coming on the show tonight. we will continue to follow your story. thank you so much. >> thank you. >> thank you. gerri: we have a lot more to
come this hour, including your voice. your voice is important to us. during the show we want you to facebook me or tweet me @gerriwillisfbn. at the bottom of the hour i will read your comments. coming up i talk to former lpga superstar annika sorenstam, about who she thinks will be the upcoming u.s. open winner for the men's championship. you don't want to miss it. stay with us. ♪
gerri: this is exciting. all the eyes of the golf world are honing in on north carolina. the 2014 u.s. open kicks off next thursday at the famed pinehurst resort, the first and largest governor course in the nation. first time, very first time, both men's and women's open will be played on the same course in back-to-back weeks. hall of fame golfer, businesswoman, philanthropist, annika sorenstam joins me by skype with preview what will happen. an nick a thank you for being with me. for the audience's sake you are the most famous woman in golf. everybody knows how successful you've been. as you look at upcoming tournament in pinehurst, who are the big contenders? start with the boys.
>> yeah, would i say, i mean, have to count on adam scott. number one in the world. probably the most consistent player out there. i mean he has everything. he is the complete package. also keep an eye on rory mack kilroy. he seems to be finding his form in the right time. he is most talented player. he is a long hitter and has finesse around the greens. if i may say i will pull for the swede, henrik stenson. had a great career last year. and i think he is somebody that will do very well. gerri: phil mickelson is in big trouble here with an insider trading investigation. is that the kind of thing that would throw him off or does he get more focused when he is under pressure. >> i only watched his press conference he keeps saying is is innocent. he has done nothing wrong. he is cooperating. you have to learn how to take all of the negatives off the golf course and start to focus.
i really think he can. there is lot of talk about the callaway promotion they have. his career grand slam and if he wins, somebody can bring home a lot of money. maybe his eyes are there. he really hasn't played that well this year. he is really focusing on the game. he has done well there in the past. hopefully he can. he is such a great addition to golf. hopefully this is something that will kind of fade way away. gerri: talk about the women. there are interesting women coming up. i like stacy lewis. she is on your list. tell us of your favorites among the women. >> i was out at pinehurst a few weeks ago. i saw the layout of the course. definitely different setup between the men and women. my first reaction it will not favor a long hitter. it will favor somebody to hit it high and land the softly. those greens are very tricky. everything falls off from the sides, the back and the front. someone that hits it height. i want to mention michelle wi.
she is the most consistent player this year. she hasn't won a u.s. open or major championship. she is another one. i really think it will be tight. it will be interesting to see how the women, how they handle the shots around the greens. gerri: i'm interested in this back-to-back notion, the men playing and women coming in behind. is that going to be a good thing or bad thing for women's golf? >> that's a very good question. i think a lot of people in the industry are wondering the same thing. first of all, if we take the positive, i think it is fantastic that women are playing in pinehurst. that they're playing pinehurst number two. it's a classic historic place. i know ladies will love it. when you put two major championships back-to-back. we know what kind of wear and tear it takes for golf course. this is the u.s. open. this is the golf course that the ladies love to play. always in immaculate shape. can the usga set up for them just a day later? that will be really interesting. i hope all-stars are aligned
correctly. i hope it turns out to be fantastic championship. gerri: i'm going to be there. i hope to see you there, annika. great to have you on the show. >> as always, thank you, gerri. gerri: coming up, next, the personal side of the gipper. we have a letter to a little girl that shows a man that president ronald reagan was. you have want to see this. i'm m-a-r-y and i have copd. i'm j-e-f-f and i have copd. i'm l-i-s-a and i have copd, but i don't want my breathing problems to get in the way
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to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones >> this is a test. >> this is a test [ male announcer ] see if your business qualifies. what happened? life happened. stress. fun. bad habits. kids. kids. kids. now what? not milk. not sheep. not that. let's think smarter. let's get some science in here. let's build a bed. another bed? no, a smarter bed a entirely new sleep number bed that tracks your movement, your heartbeat, your breathing - sensors working directly with the dual air chambers - yeah you need the air chambers. introducing the sleep number bed now with sleepiq technology. it tracks your sleep patterns and tells you
how to adjust for... a good night's sleep, a better night, and an awesome night. so what sleep number adjustments make the difference? try cranking it up? adjust it down? a little bubbly? or nix the late night flicks? wait, you'll know what works, cuz sleepiq™ technology tells you. and all you have to do is sleep. which is easy. only at a sleep number store, mattresses with sleepiq start at just $999.98 because everyone deserves a great night's sleep. know better sleep with sleep number. >> was the one a rare handwritten letter from president ronald reagan just sold. what makes this so special? reagan was responding to an 11-year-old girl. she asked him to sponsor her in a charity event and he did so. enclosing a personal check for $50. with us now is nathan robb, he handled the sale. thank you for coming on the show. i wanted to show us this letter.
tell us a little bit about this gross request and how unusual it was for the response that she got. >> as you can imagine, being a schoolgirl and doing a walkathon, getting a hand written response from president in return. so who knew that this could happen. who knew that the president would give personal funds to this thread and you can even imagine be i can't imagine that happening today. if it happened today, it would be part of a press conference and everyone in the world would know about it. but that is not the case here. >> he did this without a lot of fanfare. he just wrote a letter and just, you know, this wasn't a statement he was making. it was just the kind of person that he was and it shows you that personal side. and you talk about the policy side, but this is personal. gerri: very personal. you have other things to show us and i'm very excited to see them. you have something from
alexander hamilton, a personal letter. not something from the treasury secretary here but a personal letter. what is it about a month. >> he was actually secretary of the treasury at the time. so he's doing his own thinking. [laughter] >> he's depositing money in the bank of the united states and perhaps it's his own salary as secretary of the treasury. he will do then know to the cashier who handled all the money saying please deposit these funds on my behalf. and it was personal, and that was that. gerri: we see lots of documents but not personal information that is what is so unusual about this. let's talk about george washington. because you have a document from him rallying the troops. this would be very expensive. >> yes, this is 120,000 from come a little bit more than the rate increase. it's written during the war. and again it shows and evokes the character of washington. he talks about the revolution
coming because of the glorious event. he is congratulating the city of philadelphia. gerri: what is so sad about this are these kind of letters that reveal the character of our nation's leaders. he just don't see mucc of that anymore. it feels like it's all going through some kind of spin cycle and nothing so very personal like this kind of thing. >> it's very rare to see the personal side of these figures are it a lot of these letters still survive. so it's not like it is today were e-mails go through and people measure their words so carefully. this came straight from the heart. >> let's talk about the boston tea party. i'm excited about this. >> yes, this is essentially a check, the bankers in 1774 of john hancock were in england. they weren't in america, but the money was in england. and this is after the tea party. it shows that this is after
hancock had taken a public position in favor of the colonists and they basically bounced a check and said we will not honor the payment of these funds. things are too uncertain and we don't appreciate the fact that this is part of an. gerri: abraham lincoln praising sharpshooters. can you tell us about that? >> yes, this is written during the civil war, 1863. a citizen had ridden abraham lincoln. offering his own services. people would talk about what we think as sharpshooters today. he said he thinks it would be praiseworthy and patriotic. so again, showing the average citizens soldiers could get a response he wants another one before we go, winston churchill. a document on relations. this is his vision on the
relationship you want to the united states. another we have a lot of winston churchill fans of the in the building and i want to show this document to you. in his own hand. tell us about it. >> this is a document. it's more of a statement. the consciousness of common purposes between britain and the united states, it's the only guarantee of the future. this is before world war ii and it shows a great deal of vision. this is after world war i when it was demonstrated and american involvement was really crucial. so what sort of the beginning and the gearing of the cold war that shows his vision. gerri: of course the d-day anniversary is tomorrow. a lot of that is on people's minds, people calling you with questions about these kinds of documents. >> yes, particularly with winston churchill. we get calls all the time. there are certain things where there is always demand and churchill is one of them. gerri: thank you for coming on, thank you so much for bringing
on these documents. history coming live right here. and now we want to know what you think. log onto gerriwillis.com, has office of the president lost the personal touch? i will share that resulted in "the tonight show." and later on, the european central bank causing shockwaves around the world. and warm weather may be calling outside, but outdoor activities are opening the door to alla qu, kinds of accidents.w mon stay withey us. to show how many years that amount might last. i was trying to, like, pull it a little further. [ woman ] got me to 70 years old. i'm going have to rethink this thing. it's hard to imagin how much we'll need for a retirement that could last 3years or mor so maybe we need to approach things dferently, if we want to be ready for a longer retirement. ♪
before those little pieces would get in between my dentures and my gum and it was uncomfortable. [ male announcer ] just a f dabs is clinically proven to seal out more food particles. [ corrine ] super poligrip is part of my life now. gerri: did you know that unintentional injuries are the fifth leading cause of death? the national safety council is shining a light on the severity of the problem and the steps to prevent those injuries. herewith moniz is the president and ceo of the national safety council, deb hearsman.
what leads the list? >> well, what really leads the list is false. when you look at older adults, we are seeing a people age 65 years old and older. it is the number one cause of death for older adults. we really need to protect them in our homes. we look at people 25 years old to 64 years old. prescription drug overdoses. gerri: and you are even calling these poisonings? >> yes, what it is is prescription drugs that are being prescribed by doctors or from friends or even dealers that are resulting in more death from overdoses in cocaine and heroin combined. gerri: so what drugs are used in a way?
>> you are looking at opiates. they are made for very innocent reasons, they may have an injury, but they end up getting an addiction and it becomes very difficult and there's a lot of this going on, people are taking more and more and we have the situations where there overdosing and resulting in fatalities. >> i'm wondering if those two things are connected. you take a drug that you shouldn't have and then you are disoriented? >> is certainly for older adults are issues and we damien have not issues and that's really important. but you can do things like making sure you have hand prodrugs and handrails and make sure that people are not slipping. gerri: are there any other suggestions that you have about parents falling that they can do
to help them? >> there are things you can do in your home and lighting is really important. making sure that your stairways are clear and making sure that people don't have to get up on chairs or tables or letters and to make sure that things are easily accessible to them. staying in shape is really important as people get older, making sure you have good balance and core strength wearing things like sensible shoes, that's a very important thing is. gerri: i think that's probably a very good idea. it's great to see you and rip it to have you back. >> thank you in. gerri: according to the centers for it is these control on diseases, the cdc, how can you know which is best for you? what should you consider and
what should you spend? let's get some answers from mobile health. chris, welcome to the show. you have eight interesting product tell us about your product. >> this is a medical alert system designed for elderly adults. the number one reason that seniors opt to get a medical alert system is because they have a fear of falling. you heard how big of a problem than it is. one out of three seniors will fall here in new york city alone, over 300,000 seniors, they fell last year. gerri: what i like about your product because we have seen products that help you call 911, but you don't have to do the calling now. if you fall, your product will do it for you. >> absolutely. so this is something that you should wear, we can detect it
automatically. gerri: look at this. do people want to wear these? do you have a hard time telling people that they have to wear this around their necks? let me tell you that if you are wearing it, someone's going to see it. >> it's very important that you get something comfortable. you want to get something that you aware if it's big or bulky. we want to make sure it's comfortable. if it's on your bedpost, it's not protecting you. >> what happens when the button gets pushed? >> on that device you can press the button and i will send a wireless alert. gerri: can i go had impressive? >> yes, go ahead and present. so right now it is relaying that alert to our central station. >> thank you for testing
[inaudible] gerri: issued on? >> yes, she is done. that is a test operator. honestly they are is a test operator, that he would use a live operator. if you're unable to speak we will take the precaution. it starts at about $36 per month and that system there is typically an extra $10 per month. gerri: at the end of the day if anything happens, it detects the velocity of your movement. is that why the alarm goes off? >> this has sophisticated sensors. impacts, a number of other parameters and it will send alarm to make sure that you get to help you need. gerri: we don't want to hear from you. we want to hear from you online. answer a question online. this administration, david
writes, obama has bypassed a little girl and sent hundreds of million dollars to people in the form of welfare checks. and tom says ronald reagan was a man of integrity. and chris says the employer does not care about the common man. and why stocks here are rallying, trying to jumpstart the economy of the eurozone. the numbers that matter to you in your wallet.
banks to lend. for more on this we have steve moore. this is almost unimaginable. it's hard for me to understand this. of course we are talking about europe and banks and not consumers. can you explat is going on here and why? >> well, you call the unimaginable. it's mathematically impossible. that is potentially what has gone on in europe. thought of what they are doing is putting these as head saying we shall lend out this money. and so you have such a problem in europe. n't nougy toey don't see opportd there's not a real demand for credit in europe. we have a problem of fiscal policy and regulatory policy and
the problem is not monetary policy but all of the other that make ends banks not want to lend money. >> so much to talk about. but here is my concern. would that ever happen in the good old usa? >> we are getting pretty close to that, gerri. the interest rates and the ten-year treasury is very low, two and a half precent. the interest rate is really low. and you would have asked me that, it could've happened in the united states. >> i know a lot of consumers say that the banks are a few
loosey-goosey banks. this they are pursuing this kind of policy. can you see it happening? trying to get a liquidated economy and what they are doing is basically buying a path that. and that's i don't think it's likely that the fed would have negative interest rates. i think what they are likely to do is flushing those into the economy. >> expectations that the rates will be a little bit higher, with interesting to me as we talk about job creation, it's a huge range among economists from
110,000 to 240,000. so why can we predict this more accurately? >> well, because we have been wrong so often. and obviously we will follow these unemployment numbers. that is the answer, we are not very good at this. and we will probably get these jobs and that is a lousy number. we should be getting 40,500,000 jobs per month. and everyone is saying you and i have talked about this many
times. the unemployment job is a lot more difficult over the statistics indicate. gerri: thank you for coming on tonight, it's great to see you. >> you as well and take care. gerri: still to come, my "two cents more". high frequency trading bringing down their new proposals. we will have that next. stick with innovation.
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dual air chambers - yeah you need the air chambers. introducing the sleep number bed now with sleepiq technology. it tracks your sleep patterns and tells you how to adjust for... a good night's sleep, a better night, and an awesome night. so what sleep number adjustments make the difference? try cranking it up? adjust it down? a little bubbly? or nix the late night flicks? wait, you'll know what works, cuz sleepiq™ technology tells you. and all you have to do is sleep. which is easy. only at a sleep number store, mattresses with sleepiq start at just $999.98 because everyone deserves a great night's sleep. know better sleep with sleep number. the. gerri: high-speed trading. mary jo white unveiling initiatives tonight concerns that traders are creating an uneven playing field for small investors. senior washington correspondent peter barnes is here with the latest. >> that is right, high-frequency
computerized trading was made famous by michael lewis in his new book. he said that the market was rigged compared to regular investors. this includes performing a special committee of experts to look into the and that looks into the initiatives. she wants to regulate high-speed trading by dozens of firms and non-stock exchanges and she said that she wants all of these other firms to register to basically license them like the others and subject them to more regulation. she said that the sec should not roll back the technology clock or prohibit this including the
computer-driven trading environment working against investors rather than for them. she said it has produced him benefits including lower training costs and narrow were trading spreads and what the seller is willing to pay. >> i have to ask you. 58% disagree with mary jo white. they say the market is rigged. >> a trade association for wall street itself, it has been calling for a comprehensive review of the equity markets. this is because, as he just referenced, trust in wall street is very low. it still has not come back since the financial crisis. so they are saying that and
pointing out to investor confidence thing that the fairness of the equity market is a central to the driven economic growth of the country. so this is -- it's the bread and butter. and it is agreeing that this needs to be looked at making sure that you do a lot of research and they don't do anything that might cause higher costs. gerri: there is a flipside to that, but we certainly need some individual investors. peter, thank you so much. >> thank you. gerri: we will be right back i ys say be thman with the plan
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don't forget to record recorder showed you can't catch a show live, have a great night. ♪ ♪ >> tonight on making money, some are wondering if we should invest in hedge funds. i say no, it is like being dangerous. so what does this mean for mankind in the long run? and we have what is going through the minds of everyone. i have the answer and a lesson. all of it right here on "making